DeedGrabber Marathon Topics – So Far

This has been really fun already.

I’ve gotten more than 50 suggestions for material/concepts to cover on the Marathon – even what prizes would be the most useful!

Several suggestions were made by multiple people – so in those cases, first submitter takes the prize!  So if you have something in mind, don’t be shy!

 


SUBMISSIONS FOR THE MARATHON:

-A discussion on the new Foreclosure moratorium (this could be a great panel discussion!)

-How to find investors and cash buyers (MANY requests)

-The best way to get started if you’re totally BROKE

-Approaching objections from owners/claimants, scripts

-Competition (Will it eat me up?!?!?)

-Closing a transaction (attorney? title co? notary?)

-Doing live negotiations on the phone with sellers (we’ll try to figure this one out)

-Downsides about tax sales (there are plenty, that’s why we don’t attend them)

-Determining value of properties

-Deal examples from start to finish

-Which neighborhoods to target

-Differences working tax lien states vs. tax deed states

-How to work in remote states (with J.O.B. and time zone interference too!)

-Getting funding (and how NOT TO NEED funding many times?)

-Purchasing leftover deeds/liens that don’t sell at the initial sale

-Automation/staffing/streamlining of your business

-Generating passive income

-Skip tracing (maybe we’ll do some of your leads live?)

-Prize ideas (click2mail credit, skiptrace credits, etc)

 

The BIG QUESTION:  What have you been looking for regarding Tax Sales, or Real Estate in general, that you haven’t been able to find?!?!?

That’s what I’ll try to cover for you in the Marathon!!

 

Post here or email at deedgrabbermarathon@gmail.com


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Comments (41)

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  1. Mita says:

    Hi Rick

    I live in NJ and it is a tough state….it is a Tax Lein state but buyers bid down and go to premium…..can you please explain what this means? How does one get a lein in NJ?

  2. Max Herrera Jr. says:

    I’m still new to this crazy buisness but the more I learn the more I want to keep learning. It has practically consumed me for the last couple of months. I love it, it is like a drug that I can’t get enough of. I wanted to first say thank you for all of the free information you have made available to me, but one question I have is how does the Deedgrabbing method differ from the Frontrunning method? Thanks again Rick!!!

  3. May Chen says:

    Is it better to use self-directed traditional IRA or self-directed Roth IRA?

    Ts!

  4. darellbee says:

    Will the moratorium affect all banks or just the big banks?

    • Rick says:

      I really don’t know! We’ll try to talk about that on the Marathon, I can’t think of any big effect it will have on tax sale strategies.

  5. elijah jackson says:

    just give all your deedgrabber onwers a website that way they can conect and each one teach one that way you can sit back and relax think about it rick

  6. deborah says:

    Reading the deed document
    (R) Grantor (E) Grantee

    Deed sold at tax sale:
    Jones, John (R) Grantor
    B&B Frams INC (E) Grantee

    Notice of Power to sell Tax Deed
    Jones, John/TR (R)
    Johnson, Mary/TR (R)

    Original Deed
    Jones, John/TR (E)
    Jones, John (R)

    Who do I search for?

    • Rick says:

      If this was already sold at the tax sale, it’s too late to get the property.

      What state is the from, and what are you trying to do?

  7. John says:

    My question is “over the counter” leins what states are better and how or who can I get the list from for these items?

    john

    • Rick says:

      Generally these are liens that didn’t sell at a previous sale for the minimum bid, indicating that the property has little or no value.

      Therefore they haven’t been of much interest to me.

  8. George says:

    What documentation is involved in getting the peoples money from the state. What forms do we need? How much does it cost to get signed up with the company to become a student?

  9. Jay says:

    What advantage/disadvantage is there to buying a house already foreclosed on, and for sale by the taxing authority?

    • Rick says:

      Not much advantage – there will either be an auction, or if nobody bid on it at auction, it’s likely not worth what’s owed.

      Sometimes it’s possible to get deals like this if the taxing authority sells it for much less than what’s owed, after it was not bought at the original sale.

      That’s about it!

  10. Brittany Miller says:

    I think a great topic would be your personal choice for the best state to do remote deedgrabbing in, and what qualifies it as the best? Also, what is the best way to approach other investors to do a Joint Venture, specifically in respect to deedgrabbing? Will most be willing to listen to your pitch, and what to say to them, how to structure the partnership to be most effective on the labor/profit ratio, and what is best to outsource when deedgrabbing? Thanks, can’t wait for the marathon!

    • Rick says:

      OK, we’ll go over that stuff. I can tell you now that Florida has some of the best online resources, making it a great state to remotely DeedGrab.

      The way I’ve always gotten into JV’s with other investors is to get to know them at investor meetings, and tax and foreclosure auctions, and tell them what I do. They’re usually impressed, and if possible I share details of a deal I’m working on or I’ve just completed.

      After a while, if I needed them I had a good chance of having them work with me.

  11. Bonnie says:

    What do you do if you get taken, in real estate, and you end up with no property and no money? I know if it’s $200.00 you would walk away, but what if it’s $3,000.00?

    • Rick says:

      You take steps to make sure you DON’T get taken! You will not invest that kind of money without being very sure that the property is in suitable condition and is worth several times that amount (quick sale value), and also getting a title report.

      Is there another way you could get “taken” that you’re referring to?

  12. mark says:

    farming areas that have the most sales in the area or by zip code to get fresh buyers.
    also running through an RREO scenerio from the time you find it to the time you sell it ,wether a wholesale or retail
    thamks

  13. Jeannie says:

    I love your system and just have just begun to work it in an adjoining Tax Lien State. One of the reasons I love this program is that no one else is doing it! If you have a huge marathon (which I can’t wait to participate in), won’t it dramatically increase the competition?

    • Rick says:

      There is too much out there for competition to even be a factor. You only need a few great deals per year, or several “OK” deals a year to make a nice income. Don’t let thoughts of competition slow you down.

  14. Krystyna M says:

    The saying goes “it does matter how much you make but how much you get to keep” I am mom of 2 small kids and the fear of starting wrong in this business is holding me back. What type of legal setup I should have 1st to protect my family from law suits. What should be in place to avoid getting in trouble with IRS?
    What are the pros and cons for just doing a deal as a private citizen versa a company.

    • Rick says:

      In my experience, if you’re going to be sued, they will sue you personally and you’ll still have to respond to it.

      However doing business under a corp or LLC has been my preference because it does insulate you if liens, etc are placed on your properties.

      Pros for doing a deal as a private citizen is that you won’t scare any sellers by being some “big bad company”. But I don’t like having properties in my name, there’s just no reason for it.

  15. Krystyna M says:

    Will you provide recording to all of us that attend the session so we can listen later and get ALL the info we can from that call?

    • Rick says:

      I’m going to try to record it but I’m wondering if the thing will crash after 26 hours. Maybe we’ll switch webinars every couple hours so we can stop the recording.

  16. Donna says:

    Can you explain about rolling over 401k funds into a Qualified Retirement Plan so that one has more funds available for self-directed investing in real estate, tax liens/deeds, etc?
    Are there any states for beginners to avoid when first investing in liens/deeds/deedgrabbing?

    • Rick says:

      Not really my expertise! But I know you can do it!

      I don’t think there are really any states to avoid, I’ll have to think about that one.

  17. May Chen says:

    In an A,B, & C transaction process, and B being the investor,
    Can you avoid owning the property, therefore avoiding the capital gain tax by using simultaneous closing instead of other method of closing?

    Ts! Ts!

  18. Sam says:

    I think the marathon will be a success and I can’t wait, because all the topics in the agenda will help us at any level.

  19. Erik says:

    To do on the Marathon– A DEAL !! Do a Deedgrab LiVE from start to finish as much as possible

    • Rick says:

      We’ll see what we can do – but unfortunately I’ve never been able to make deals happen at will – they kind of happen when they want to!

      With that said, I may ask some of you to send in some leads we’re working on and Michelle will call them – if it ends up being legal!

  20. nancy weber says:

    I’ll see properties that are under Trusts. Who usually do you contact when properties are in Trust? Maybe go over what a Trust is and who usually are involved in a Trust.

    Also I’ve run into heirs who find it very expensive ($1000.00) to put the property into their names. They don’t want to spend the money, so they let it go to sale. Is there any way around that?

    Thanks!!

    • Rick says:

      Sure. You can contact the Trustee, who is sometimes the beneficiary also. If not you can ask them to pass a message to the beneficiary.

      Also, find out who lives at the property, and possibly who deeded that property to the trust in the first place. This can lead you to the beneficiary, who makes all the decisions.

      Not sure why it would be $1000 to put the property into their names? Yes, you can certainly take over their position in the property and pay them some cash, then get the property put into your name. I’ll go over how I’ve done that before.

  21. jimmy keller says:

    rick is there a list of forclosures or a website we can all visit to find these sellers that isnt like pulling teeth? lthe taxsalelists.com sucks i’m not sure why you reccomended it in the first place, they didnt have any usefull inforemation and it took me 4 months to get a refund. i need somethinf i can use, do you still have those lists you had for $99? yhats what i need, thanx

    • Rick says:

      What was wrong with the taxsalelists.com lists? I’ve found them accurate. I’ve mentioned that they ARE NOT updated however, and that you will need to pull the owner name and address from the county website as they are not usually included.

      I hope you did not sign up for their training, as I DO NOT recommend that.

      If it were so easy to get a list of foreclosures from a website with everything served up on a silver platter, this would no longer be the opportunity it is – everyone would be doing it. By just using a little ingenuity though, you can take taxsalelists.com lists, or lists you can find from the county directly online, enhance them, and start contacting the owners.

      Once you’ve made some money, you can automate everything with the software found here: http://www.deedgrabber.com/IMacros

  22. Charlotte Lucchesi says:

    Are there any state restrictions to doing this in other states from the one where you formed your LLC? CA charges 800.00 for a foreign LLC/Corp to do business there. Could you get the property in your name and then deed it to an LLC/Corp? Hope this makes sense.

    • Rick says:

      I’m not aware of anything there, except that if you are going to do business extensively in a state other than where you’ve filed, I’ve been told to file for “foreign corporation” status in the state you’re doing business. It’s not a big deal in my experience.

      Ah, I see you just mentioned that and CA is very expensive.

      I think the main reason for doing that is that you may not have “standing” in court if you should need it unless you’re registered as a foreign corp.

      I think the answer might be, that you shouldn’t need to file if you’re only doing 1 or 2 deals there, then if you want to keep doing business there you’ll just have to bite the bullet and pay the $800, it should be a small expense compared to what you’re making.

      NOT LEGAL ADVICE just my experience.

  23. Alisha says:

    Hi Rick I live in CA and have tried to deedgrab here and every time I send out letters to home owners the ones who do call are always wanting to just stay in their homes…what are some ideas to really motivate them to want to move on?? or what could I possibly do for them and keep them in their home but still make some $$$. Thanks Alisha

    • Rick says:

      If this is what you’re finding, maybe you should concentrate on sending letters only to people who don’t live in the properties (their mailing address is different than the property address).

      You can get the owner’s mailing address in California from http://www.parcelquest.com

      It’s hard to motivate someone to do something they don’t want to do…and I don’t recommend doing deals with people and letting them remain in the home, it’s too risky today with new laws being passed.

      Concentrate on those properties where the owner doesn’t live there – you’ll like the results.

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